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1985 (9) TMI 52 - HC - Income TaxExtract: ....... Court, we find that the Tribunal was right in holding that the devaluation loss of Rs. 42,44,932 was an allowable revenue loss. We answer the questions thus Question No. 1 In the negative and in favour of the assessee. Question No. 2 In the affirmative and in favour of the assessee. The Revenue shall pay to the assessee the costs of the reference.
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